Technological Advancements and Innovative Products to Drive Global Chromatography Accessories and Consumables Market
Chromatography is a set of laboratory procedures or techniques that is used widely for separation of mixtures. The overall chromatography accessories and consumables market comprises laboratory equipment and instruments. The technical advancements in this field have enhanced the precision of chromatography techniques. The extensive application of chromatography accessories and consumables can be seen in several industries such as food and agriculture, academics and research, pharmaceuticals, diagnostic laboratories and hospitals, and others.
According to a new study presented by Transparency Market Research, in 2014, the global market for chromatography accessories and consumables was valued at US$7.8 bn and is estimated to reach a value of US$15 bn by the end of 2023. The market is estimated to register a 7.50% CAGR from 2015 to 2023.
Some of the major factors fueling the growth of the global chromatography accessories and consumables market are:
- Growing demand for chromatography processes in food and agriculture, life science research, pharmaceuticals, chemicals, and other industries
- Increasing number of technologically advanced and innovative products
- Increasing government-aided funding, participation, and activities in the global chromatography industry
- Growing awareness regarding chromatography with the help of conferences and exhibitions across the globe
- Improving infrastructure and economic development in emerging countries, fueling the growth of the chromatography market
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Based on product type, the global market for chromatography accessories and consumables can be divided into: solvents, buffers, and adsorbents, chromatography media/resins, chromatography detectors and accessories, chromatography filters, columns and column accessories, and other accessories and consumables. In 2014, the solvents, buffers, and absorbents segment dominated the global market, accounting for the largest share, and is estimated to register significant growth in the next few years. The high growth rate of this segment can be attributed to the growing adoption of this equipment in pharmaceutical research and the chemicals industry and increasing demand from bio-pharmaceutical and biotechnology companies.
Asia Pacific to Register High Growth Rate in Chromatography Accessories and Consumables Market
Based on geography, the global market for chromatography accessories and consumables can be divided into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. Among all these regions, in 2014, the North America regional market accounted for a dominant share of 40.2% in the overall chromatography accessories and consumables market. The high growth rate of North America can be credited to the growing demand for cutting-edge products, increasing support from governments for research and development activities, and improving research infrastructure.
In addition, the increasing applications of chromatography in medicine, forensics, and the cosmetics industry are further fueling the growth of the market. On the other hand, the Asia Pacific chromatography accessories and consumables market is estimated to grow at a fast pace in the next few years due to the presence of favorable economic conditions, improving healthcare infrastructure, and expansion of major companies.
The key players operating in the global market for chromatography accessories and consumables are Pall Corporation, Tosoh Corporation, Shimadzu Corporation, Sigma-Aldrich Corporation, GE Healthcare, Phenomenex, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Agilent Technologies, Inc., EMD